6th Mar 2019 14:26
LONDON (Alliance News) - Foresight Solar Fund Ltd on Wednesday reported a 4.0% increase in its net asset value per share as its portfolio of solar assets grew.
The stock was trading 0.4% higher on Wednesday at 114.50 pence a share.
The investment company said NAV per share rose to 111.2p at the end of December 2018 from 107.0p at the end of 2017, driven strong operational performance of the UK portfolio.
Foresigt Solar's portfolio grew to 54 ground-mounted solar assets totalling 869 megawatts of capacity in 2018 from 23 solar assets totalling 621 megawatts in 2017.
The fund declared an annual dividend of 6.58 pence, up 4.1% from 6.32p paid the year before. Foresight Solar is targeting a 6.76 payout per share for 2019.
Looking ahead, the company said it intends to continue to focus on portfolio and capital structure optimisation, improving the performance of the Australian assets and delivering strong operational performance across the portfolio.
"We will focus on optimising our recently-acquired assets, improving the capital structure through a third-party debt refinancing and continuing to deliver strong operational performance across the portfolio. We look forward to a further year of progress," said Chair Alex Ohlsson.
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Foresight Solar Fund